Woodgrain Inc. 401(k) Review & Grade
Woodgrain Millwork, Inc. Employee Savings Plan and Trust
Fruitland, IDManufacturing4,446 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,366Employer $ per active participant
$5,112Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$271.8MNet plan assets, end of year
$50,184Average balance per account
Score breakdown
- Employer generosity8.0 / 5016th percentile for employer $ per participant
- Low cost9.3 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving5.7 / 1538th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score28 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 37th |
| Employee saving | 38th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Woodgrain put in about $1,366 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.19% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $6,072,623 |
| Participant (employee) contributions | $22,731,465 |
| Other contributions (incl. rollovers in) | $3,887,865 |
| Administrative expenses paid from the plan | $485,593 |
| Other admin expenses | $485,593 |
| Benefits paid out | $39,946,329 |
| Net assets, start / end of year | $247.9M / $271.8M |
| Active participants, start / end of year | 4,449 / 4,444 |
| Participants with account balances | 5,417 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cooper Norman |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $452,296 reported compensation |
| Vanguard Advisers Inc. | $52,508 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929113007NAL0010823953001, received 2025-09-29, EIN 93-0563778, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.